Recycling Firms Make “First Trade” for Paper Bales Using Bitcoin in UK

The “first trade” of bales of recyclable paper in the UK using the crypto-currency Bitcoin has taken place.

Kent-based specialist in waste consultancy and management, Prismm Environmental, last week bought several loads of paper from Parry & Evans in North Wales using Bitcoins to pay for the material.

"I hope this is the first of many transactions that take place in Bitcoin in the future,” said Prismm Environmental managing director Mike Jackson.

“We recently announced that Prismm Environmental would be happy to trade in Bitcoin, and I am pleased that we have been able to do a deal with Parry & Evans,” he continued.

"Using Bitcoin worked for both us and Parry & Evans as there was no transaction fee to pay, and they received instant and secure payment. It also shows the intention of both companies to collaborate on technology in future," concluded Jackson.

Parry & Evans project development manager Lee Evans added: "When Prismm Environmental offered to pay us using Bitcoin, we were more than happy to try it out. The advantage to us of knowing the payment was secure, and receiving it instantly meant that it made a lot of sense to us."